Food preservatives are added to the products during processing to avoid spoilage. Traditionally, salt and spices were used to preserve meat and other foods. The preservatives help in maintaining the essential food features such as texture, flavor, edibility and nutrition and reduce wastage through spoilage. Factors such as hectic and sedentary lifestyles coupled with rising health issues resulting in demand for convenience foods which are easy to store for longer time motivating the food processors to use preservatives and to reduce food loss and wastage. The global food preservatives market is also segmented by type, application and function, allowing more precise real-time food preservatives market status and actual development opportunities in the near future.

In 2020, synthetic food preservatives dominated the global food preservatives market, by type in terms of value and projected to maintain its dominance during the forecast period between 2021 and 2029, due to increasing consumption of meat, seafood and bakery and confectionery products has resulted in high demand for synthetic food preservatives.

By function, antimicrobial accounted for the largest share in the global market, representing approximately 50% share in 2020 in terms of revenue. Antimicrobial function is followed by the antioxidants in terms of market share, however, it is projected to witness the fastest CAGR during the forecast period in this category. The growth for antioxidant preservatives is due to increasing preference for functional preservatives which serves the dual purpose of preserving food products and are also beneficial to health.

Global food preservatives market by application, in 2020, meat, poultry & seafood accounted for the largest share in terms of value. The Bakery products segment is estimated to account for 19.0% value share in 2021 and expected to decline and reach 19.4% value share by 2027, due to inclination towards baked foods which need high volume of preservatives, due to slow sales. Increasing usage of Food Preservatives, especially in meat products, poultry and fish products and bakery products such as pastries, breads, toppings and fillings is expected to drive preservatives growth over the forecast period.

In 2020, North America was the leading region in the food preservatives market followed by Asia-Pacific & Europe. Asia-Pacific is projected to witness the fastest growth between 2021 and 2029. Increasing usage of food preservatives, especially in meat, poultry and fish products, along with growing economy and rising disposable income in countries such as China, India and Japan is expected to drive preservatives growth over the forecast period.

With the rise in the use of preservatives in the food and beverages industries players are focusing on offering more innovative and customized products and also employing various strategies such as new product and development, mergers and acquisitions, joint ventures, expansion and so on. In recent years, many acquisition have been traced within the food preservative industry, and hence, considered as the most preferred strategies. Some of the key players present in this market are Akzo Nobel N.V. (Netherlands), Univar Inc. (U.S.), Cargill, Incorporated (U.S.), Danisco A/S (Denmark), and Koninklijke DSM N.V (Netherlands) among others.

Synthetic preservatives accounted for the largest value share in 2020. Due to increasing preference for food products with longer shelf life, rising meat and seafood consumptions and higher demand for ready to eat food motivating manufacturers to use food preservatives for increasing the sustainability of food and beverages, which in turn fuelling the market growth of food preservatives. Rising consumer awareness and demand for natural food products, increasing health concerns and technological advances in food production, is expected to support and sustain the growth of the natural food preservatives market. Natural preservatives segment is anticipated to account for more than 36% of the market share in 2021 and is expected to show robust growth during the forecast period.

In terms of market value, meat, poultry & seafood application segment is estimated to account for 24% share in 2021 and expected to maintain its dominance throughout the forecasted period. Increasing demand of food preservatives from the application industry especially from meat products, poultry and fish products and bakery products which includes toppings pastries, breads, and fillings is expected to drive preservatives growth over the forecast period. Factors such as growing economy and rising disposable income in Asia-Pacific is leading to increased consumption of meat, which has resulted in large scale consumption of preservatives in the region. The Bakery products segment holds the second largest share by application, owing to consumer’s inclination towards baked foods which need high volume of preservatives for enhancing their shelf-life, due to slow sales.

The global food preservatives market by function is currently dominated by the antimicrobial preservatives, estimated to accounts for approximately 46% value share in 2021. Antimicrobial preservatives is projected to witness the CAGR of 3.0% between 2021-2029, which is slower than antioxidant preservatives. Antioxidant preservatives is expected to register the highest CAGR of 3.5% between 2021-2029. This growth of antioxidant preservatives can be attributed to increasing preference for functional preservatives which serves dual purpose of preserving food and providing nutritional benefit to the body which helps to improve human health. Food preservatives are also used as chelating agents and enzymes attackers, which is included in the others function.

North America is estimated to accounts for largest value share in 2021. Increasing demand for packaged food, canned foods, product with extended shelf-life and poultry products coupled with high purchasing power in the U.S. is driving demand for food preservatives in North America region. Further, popularity of ready to drink/cook products, seafood, and quick meals among consumers is also contributing to the growth of food preservatives in the region. The market in Asia-Pacific accounted for second highest value share of approximately 28% in 2020 and is also expected to register the fastest growth between 2021 and 2029. Increasing demand of food products such as non-seasonal fruits and vegetables, frozen food products, sea food from South East Asian countries and booming consumption of bakery products, coupled with growing disposable income, and stable economic growth in the region is expected to drive demand for food preservatives in the region. Demand of food preservatives is mainly driven by economies such as China, Japan and India in Asia-Pacific.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Food Preservatives market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Food Preservatives market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Food Preservatives market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Food Preservatives market?
• Which is the largest regional market for Food Preservatives market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Food Preservatives market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Food Preservatives market worldwide?